Loan late fees are the so-called overdue fines, which are generally collected by lending institutions on a daily basis, and the interest rate charged is 30%-50% higher than the original loan interest rate. (1) If there is an agreed standard for late payment in the loan contract, it shall be calculated as agreed in the contract; (2) If the loan contract does not stipulate the standard of late payment, it shall be calculated according to the calculation standard of default interest in loans overdue stipulated by the central bank. Specifically, the amount of overdue fine = overdue amount * loan interest rate (1+30%~50%)* overdue days. For example, if you borrow 2000 yuan in cash from a lending institution, the daily interest rate of the loan is 8 days overdue. Amount of late payment =2000* Most lending institutions charge late payment on a daily basis by multiplying the overdue loan amount by the late payment interest rate. For example, breaking the interesting installment payment method of sky-high late payment fees in the past will generate late payment fees every day after the deadline. If the monthly repayment to 200 yuan is overdue, the late payment fee will be one day in 200 yuan and one month in 30 yuan. The reason why the loan late payment fee is high is that some lending institutions have stipulated liquidated damages in the loan contract, and if they default, they will compensate a certain amount. Coupled with the interest and service fees that would have been charged, it seems that the loan late payment fee is very high.